Loan Against Securities By Citibank
Features For Loan Against Securities By Citibank
Citibank stock power is the key to unlock the power of your investments. You can avail an overdraft against your investments in select equity shares and Mutual Funds.
It is a comprehensive solution that helps you with your day-to-day banking and at the same time gives you instant liquidity. So, whenever you need money, you can use your securities* to get the required funds.
Competitive Interest Rates
Citibank offers the most competitive interest rates for the Stock Power accounts. Interest is levied on a daily reducing balance.
Upto Rs.20 lakhs against Equity Shares, Equity Mutual Funds, FMPs, PSU Bonds, T-Bills and Upto 25 Crores for 100% Debt Mutual Funds.
Own your Security
You continue to be the rightful owner of all these securities. They are only pledged in favour of Citibank, therefore you are entitled to all the benefits (e.g., dividend, bonus, rights, etc.) that accrue on these securities.
When you open a Stock Power account with us, you also get a one-glance statement, personalized payable-at-par cheque book, free ATM / Debit Card, free access to the 24-hours CitiPhone and Citibank Online Internet Banking.
Easy to Borrow
Avail an overdraft limit by pledging securities in favour of Citibank. Pledge equity shares by submitting the pledge hypothecation form. For Mutual Funds, a letter, in a standard format, addressed to the fund house is required. The format may be availed from any Citibank branch or download here.
Easy Interest Terms
Interest is calculated on a daily reducing balance in your account. Pay only for the money you have used. For example, if the interest rate applicable is 15% p.a., the interest payable would be approx. Rs.41.41 per Lakh per day. If your account has credit balance, no interest will be levied.
Citi India began operations over a century ago in 1902 in Kolkata and today is a significant foreign investor in the Indian financial market. As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Operating 45 full-service Citibank branches in 28 cities, it is the preferred banker to 45,000 small and mid-sized companies. Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Ltd. and lflex Solutions Ltd.; it pioneered the ITES industry in financial services through Citigroup Global Services Ltd. (CGSL). Oracle acquired lflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008. Citi India, with around 11,400 employees, is headquartered at First International Financial Centre (FIFC), a world-class environmentally friendly building. It added two new green premises this year, taking the total LEED certified premises to 12.
Citi serves the full spectrum of clients - from helping India's top global corporations commit capital, make markets and manage their global cash positions to supporting the growth ambitions of the country's small and mid-sized enterprises and enabling individuals and households save, invest, spend, borrow and protect their money with trust and confidence. Citi India's products and services are organized under two major segments: Institutional Clients Group (ICG) and Global Consumer Bank (GCB).
ICG serves Citi's best-in-class products, services and execution through Global Banking, Global Markets, Treasury & Trade Solutions, Securities Services, Citi Research and Citi Private Bank.
GCB serves clients in every segment across the entire wealth continuum as they grow in affluence, beginning with the path breaking salaried proposition (CitiAtWork), the emerging affluent (Citibanking), the affluent (Citigold) and the High Net Worth (Citigold Private Client). Citi pioneered the Non-Resident proposition in 1985 to serve the global Indian's unique banking and wealth management needs. With 2.3 million cards in force and 16% share in card spends, Citibank offers a suite of market first premium, rewards and affinity credit cards. Citi Wealth Advisors offers brokerage services to retail customers.